2021 has been a stellar year for many altcoins, including MATIC.
What is a Polygon and how is it related to MATIC
MATIC is the token of the Polygon Network (until February 2021 – Matic Network). Matic Network was created with the help of a blockchain development company as an Ethereum sidechain with the aim of addressing scalability issues of the main blockchain.
The Polygon infrastructure can host an unlimited number of DApps for various purposes, including games and financial applications. At the moment, about a hundred DApps are already running on the platform.
In fact, Polygon offers a convenient solution to the scalability problem so that popular applications can quickly process large amounts of information.
How MATIC works
MATIC is an ERC-20 standard token. The coin serves several important functions. It serves as a means of payment for transferring money between network users, for paying commissions and paying rewards to users who take part in verifying transactions.
How the MATIC price has changed
The coin hit the market in 2019 and was priced at only $ 0.00263. During 2021, the token grew by more than 10,000% and entered the TOP-20 largest cryptocurrencies by market capitalization. If a few years ago the swap of MATIC to FTM was of little interest to traders, now these coins are considered as promising and potentially profitable instruments of long-term investment.
How to exchange MATIC for other cryptocurrencies
Conversion of cryptocurrencies among themselves is possible either on traditional exchanges or on decentralized C2C exchanges, better known as instant exchange services.
Algorithm of works a traditional exchange
This coin is traded on many cryptocurrency exchanges, in particular Binance, Okex, Huobi, Kraken, Сex.io.
The general sequence of actions for an exchange through a traditional exchange looks like this:
- Register if you are not yet a user of the site.
- Verify your account if required by your exchange.
- Deposit coins.
- Create an order to swap MATIC to BNB or another coin. Depending on the technical capabilities of the exchange, this can be a limit order, a buy on a counter order, or a quick deal.
- Withdraw coins from the exchange to your wallet if you do not plan to conduct active trading.
Please note that traditional platforms charge fees for almost all transactions.
How does the conversion of cryptocurrencies take place on LetsExchange?
The MATIC swap on a fast exchange platform like C2C looks a little different:
- In the upper field of the exchange widget, select MATIC for sale and indicate the amount of the transaction;
- In the lower field, select a coin to buy;
- Indicate the address of your crypto wallet;
- Deposit coins.
- Press the “Exchange” button.
LetsExchange is, first of all, convenient and safe. You can buy and sell over 300 coins without a long search and waiting for the most profitable rate. The Smart Rate system will take care of the best deal for you and automatically select it for you. As soon as the transaction is completed, the coins are credited to your wallet.
You do not disclose any personal information and do not entrust the storage of your funds to a third party. This means that both are protected as much as your device is reliably protected.
